THE country’s anti-graft court has acquitted a former Finance official and eight other executives of private companies of graft in connection with a P380-million tax credit certificate (TCC) scheme.

The Sandiganbayan said the prosecution had failed to present sufficient evidence about the illegality of the transfer of the certificates to Pilipinas Shell Petroleum Corp. approved by Uldarico P. Andutan, Jr., former deputy executive director of the One Stop Shop Inter-Agency Tax Credit and Duty Drawback Center.

“The prosecution’s basis for stating that the transfers of the subject TCCs were not supported by proper/required requirements has no solid ground,” it said in a decision promulgated on Feb. 21.

The anti-graft court said the prosecution “did not provide or alleged what required documentation has not been complied with” in the first place.

The court lifted the hold orders against the accused and released their cash bonds. — Genshen L. Espedido